About the Company
Starting out as a tiny worsted spinning & hosiery unit in Ludhiana, Nahar Spinning Mills was incorporated as private limited company in December 1980 & became a public limited company in 1983. The steady growth in manufacture & export of woolen/cotton hosiery, knitwears & woolen textiles enabled the company to earn the recognition as an “Export House” followed by a “Recognized Trading House” by the Government of India in a short span of 8 years.
The company is the part of Nahar Group of Companies. The group was established in 1949 with the incorporation of oswal woollen mills limited. From there it had surged ahead to establish itself as a reputed industrial conglomerate with a wide ranging portfolio from wool combing, spinning, knitting, fabric, hosiery garments etc. other group companies are Nahar Industrial Enterprises Limited, Nahar Investments and Holdings Limited, Nahar Capital and Financial Services Limited.
Spinning a web of pure enchantment seems to be the aim and objective of Nahar Spinning, reckoned to be the blue-chip in the Nahar firmament.In 1992, as a measure of backward integration, the company diversified into the Spinning Industry. Today it has an installed spindlage of 335000 spindles.
Simultaneously the company also established an ultra modern facility to manufacture 12.5 Million pieces of Hosiery Garments. Today Nahar Spinning’s T-shirts are being exported to reputed international brands such as GAP, Arrow, Old Navy, Pierre Cardin, Philips Van Heusen, Izod, Quicksilver, Price Costco…
As a measure of further value addition Nahan Spining has put up a plant for the manufacture of fine count mercerized yarn & fabrics catering to both, the domestic hosiery garment market as well as export markets.
To make use of the emerging opportunities on the Global Textile Scenario and also to have a focused business approach, the company went in for the Scheme of demerger and arrangement to restructure its businesses. The Scheme has already been approved by the Hob’ble Punjab & Haryana High Court vide its Order dt. 21st December, 2006. As per the scheme, company’s Investment Activities stand demerged and transferred to Nahar Capital and Financial Services Limited. This has drawn a visible line between two segment i.e., One Industrial (Textile) business and Secondly Investment and Financial Activities.
Further as per the scheme “Textiles Business” of Nahar Exports Limited stand demerged and transferred to the company (post demerger of investment business) in accordance with the terms of the scheme. Thus upon implementation of the Scheme the spindlage capacity of the company stand increased to 3.35 Lacs spindles.Keeping in view the emerging opportunities arising out of the quota free global trade w.e.f. 1st January 2005, the Management decided to invest Rs 112.45 crore in the capacity expansion. The company shall be putting up an Ultra Modern Spinning and Knitting cum Dyeing Plant with a capacity of 25000 spindles at village Lalru, Patiala. The expansion is financed by way of term loan of Rs 80 crore from the Financial Institutions under Tuff scheme and balance from the internal accounts of the company. The management is quite optimistic that enhanced capacity will enable the company to improve its financial performance in the coming years.
Business area of the company includes:
Different divisions of the company
- Spinning Division -The company has 93408 spindles for manufacturing Cotton / Synthetic & Blended Yarns. The company has also put up a Mercerizing cum Dyeing plant at village Lalru, Patiala for manufacturing of High Value Added Yarn, for the quality conscious market of U.S. & European Union. The capacity of the plant is 2040 M.T.
- Hosiery Garments Division -
Milestones and achievements of the company
- 1980 Incorporated as a private limited company
- 1984 Recognized as an Export House by Govt. of India
- 1985 Raises funds through maiden public issue to finance modernisation & expansion
- 1988 Recognized as a Trading House by Govt. of India
- 1991-92 Turnover crosses the Rs 100 crore mark
- 1992 Decides to set up a spinning unit with 50400 spindles. Raises capital through a rights issue.
- 1994 Decides to raise the spindlage by another 25000 spindles
- 1995-96 Turnover crosses the Rs. 200 crore mark
- 1996 Receives ISO-9002 certification
- 1996-97 Turnover crosses the Rs. 300 crore mark
- 1999 Accorded Golden Trading House Status by Government of India
- 1999-2000 Mercerizing-cum-dyeing plant and a 100% EOU Spinning Unit with 28224 spindles under implementation
- 2003-2004 The Cotton Textile Export Promotion Council awarded TEXPROCIL SILVER TROPHY to the company for its outstanding Export performance in yarns
- 2006-2007 The apparel export promotion council awarded AEPC achievement award to the company for achieving highest exports in garment.
- 2010 - Nahar Spinning Mills Ltd got highest export in cotton garment award by apparel export promotion Council.
- 2011 - Nahar Spinning Mills Ltd got Gold Trophy for highest export of yarns having count 50 & below in yarn category.
- Nahar Spinning Mills Ltd got Bronze Trophy for highest export of processed yarns in yarn category.
|Nahar Spinning Mills Ltd.